With the Property Agents and Motor Dealers Act (“PAMDA”) repealed earlier in the year and new legislation passed, there has been a period of uncertainty about when the new laws would come into effect and exactly what the changes would mean to Real Estate Agents.
The Changing Face of Property Law in Queensland:
Earlier this year the Queensland Government repealed the Property Agent and Motor Dealers Act 2000 (“PAMDA”) and brought in the Property Occupations Act 2014 (“Act”) to replace it. This new piece of legislation brings with it a raft of changes to property lawin Queensland, a few of which we have highlighted before. As we edge closer to the time in which it comes into play we thought we would revisit this topic and highlight a few addition changes to the way property is bought and sold and what this will mean to buyers and sellers of residential property.
Property Law Update - Changes to Conveyancing in Queensland:
There are some big changes in store when it comes to property law and conveyancing in Queensland. On top of PEXA, or electronic conveyancing, that is due to commence in the next six months, the Queensland Government has passed new legislation which radically overhauls the way residential properties are bought and sold in Queensland.